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01.04.202010:51 Forex Analysis & Reviews: Simplified wave analysis of EUR/USD and AUD/USD on April 1

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EUR/USD

Analysis:

The wave level of the price rise that started on the euro chart on March 20 exceeded the scale of the correction of the previous downward section. A new short-term trend is developing upwards. In the last 3 days, the price forms a correction that is still incomplete.

Forecast:

The bearish wave that started last Friday may last for several days. A general upward mood is expected today. If the upper limit of the nearest resistance is broken, you should wait for growth to the next zone. This will be followed by the end of the wave, with the price moving down.

Potential reversal zones

Resistance:

- 1.1180/1.1210

- 1.1060/1.1090

Support:

- 1.0980/1.0950

Recommendations:

Purchases on the euro today are only possible within the framework of intraday. No conditions have been created for sales yet. The best tactic is to refrain from trading during the correction and look for buy signals at the end of it.

AUD/USD

Analysis:

The high wave level of the rising section of the wave from March 19 allows us to classify this movement as the beginning of an upward trend. The preliminary calculation allows you to wait for the price rise to 4 price figures. In the last 3 days, the price is adjusted downward.

Forecast:

In the coming day, the pair's downward move is expected to complete, a reversal and the beginning of a price rise. A break in the nearest resistance zone is not excluded today. In this case, you can wait for the rate to rise to the next zone.

Potential reversal zones

Resistance:

- 0.6260/0.6290

- 0.6160/0.6190

Support:

- 0.6070/0.6040

Recommendations:

Sales of "Aussie" today are unpromising. It is recommended to track the instrument purchase signals in the calculated support zone.

Explanation: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of arrows shows the formed structure and the dotted ones show the expected movements.

Note: The wave algorithm does not take into account the duration of the tool movements in time!

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